Civic Intelligence

Washington Community Reinvestment Association

EIN 91-1522679 • 501(c)3 • Seattle, WA

Profile

To be a catalyst for the creation and preservation of affordable housing in washington state, to expand resources for real estate based community development, and to be a voice for its member financial institutions on affordable housing and community development issues.

1200 Fifth Ave Suite 1406 1406Seattle, WA 98101

www.wcra.net

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

89th percentile

0.95x

Higher debt load relative to assets than 89% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

98th percentile

17.79x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

58th percentile

7.3%

Higher net margin than 58% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

27th percentile

$322,160

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

77th percentile

14%

Faster asset growth than 77% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

61st percentile

13%

Faster revenue growth than 61% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Assets

Up

$133,044,181

Up $4,500,498 (+3.5%) from 2023

Liabilities

Up

$126,726,275

Up $4,141,504 (+3.4%) from 2023

Net Assets

Up

$6,317,906

Up $358,994 (+6.0%) from 2023

Revenue

Up

$7,224,499

Up $394,947 (+5.8%) from 2023

Expenses

Up

$6,865,505

Up $282,708 (+4.3%) from 2023

Net Income

Up

$358,994

Up $112,239 (+45%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2011: $79,234,085Liabilities 2011: $76,887,716Net Assets 2011: $2,346,3692011Assets 2012: $88,875,536Liabilities 2012: $86,378,781Net Assets 2012: $2,496,7552012Assets 2013: $92,005,354Liabilities 2013: $89,216,703Net Assets 2013: $2,788,6512013Assets 2014: $96,452,276Liabilities 2014: $93,431,982Net Assets 2014: $3,020,2942014Assets 2015: $94,554,036Liabilities 2015: $91,141,148Net Assets 2015: $3,412,8882015Assets 2016: $98,579,143Liabilities 2016: $94,869,080Net Assets 2016: $3,710,0632016Assets 2017: $101,924,825Liabilities 2017: $97,887,202Net Assets 2017: $4,037,6232017Assets 2018: $101,862,917Liabilities 2018: $97,283,334Net Assets 2018: $4,579,5832018Assets 2019: $104,837,887Liabilities 2019: $99,872,528Net Assets 2019: $4,965,3592019Assets 2020: $112,658,431Liabilities 2020: $107,329,998Net Assets 2020: $5,328,4332020Assets 2021: $116,294,724Liabilities 2021: $110,834,855Net Assets 2021: $5,459,8692021Assets 2022: $122,749,409Liabilities 2022: $117,037,252Net Assets 2022: $5,712,1572022Assets 2023: $128,543,683Liabilities 2023: $122,584,771Net Assets 2023: $5,958,9122023Assets 2024: $133,044,181Liabilities 2024: $126,726,275Net Assets 2024: $6,317,9062024

Highlighted filing

2024

Assets$133,044,181
Liabilities$126,726,275
Net Assets$6,317,906

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2011: $5,329,986Expenses 2011: $5,171,481Net Income 2011: $158,5052011Expenses 2012: $5,654,5262012Expenses 2013: $6,192,9972013Revenue 2014: $6,451,795Expenses 2014: $6,220,152Net Income 2014: $231,6432014Revenue 2015: $6,505,788Expenses 2015: $6,113,194Net Income 2015: $392,5942015Revenue 2016: $6,205,717Expenses 2016: $5,908,542Net Income 2016: $297,1752016Revenue 2017: $6,401,323Expenses 2017: $6,073,763Net Income 2017: $327,5602017Revenue 2018: $6,292,173Expenses 2018: $5,750,213Net Income 2018: $541,9602018Revenue 2019: $6,155,740Expenses 2019: $5,769,964Net Income 2019: $385,7762019Revenue 2020: $6,319,699Expenses 2020: $5,956,625Net Income 2020: $363,0742020Revenue 2021: $6,226,121Expenses 2021: $6,094,685Net Income 2021: $131,4362021Revenue 2022: $6,470,844Expenses 2022: $6,218,556Net Income 2022: $252,2882022Revenue 2023: $6,829,552Expenses 2023: $6,582,797Net Income 2023: $246,7552023Revenue 2024: $7,224,499Expenses 2024: $6,865,505Net Income 2024: $358,9942024

Highlighted filing

2024

Revenue$7,224,499
Expenses$6,865,505
Net Income$358,994

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$133$127$6.32$7.22$6.87$0.36
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$129$123$5.96$6.83$6.58$0.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$123$117$5.71$6.47$6.22$0.25
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$111$5.46$6.23$6.09$0.13
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$113$107$5.33$6.32$5.96$0.36
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$105$99.9$4.97$6.16$5.77$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$102$97.3$4.58$6.29$5.75$0.54
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$102$97.9$4.04$6.40$6.07$0.33
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$98.6$94.9$3.71$6.21$5.91$0.30
2015Detailed filing. Detailed filing data is available for this year.$94.6$91.1$3.41$6.51$6.11$0.39
2014Detailed filing. Detailed filing data is available for this year.$96.5$93.4$3.02$6.45$6.22$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.0$89.2$2.79$6.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.9$86.4$2.50$5.65
2011Summary only. Only limited summary data is available for this year.$79.2$76.9$2.35$5.33$5.17$0.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 7, 2025
Return Version
2023v6.0
Gross Receipts
$7,224,499
Mission and Program Overview

Mission

The creation and preservation of affordable housing in washington state. To expand resources for real estate based community development, and to be a voice for its member financial institutions on affordable housing and community development issues.

The creation and preservation of affordable housing in washington state.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$110,330,187$114,493,681▲ $4,163,494
Other Notes and Loans Receivable, Net$2,639,917$9,589,035▲ $6,949,118
Cash and Non-Interest-Bearing Accounts$12,112,180$4,805,695▼ $7,306,485
Savings and Temporary Cash Investments$2,343,604$3,103,397▲ $759,793
Accounts Receivable$610,643$694,115▲ $83,472
Prepaid Expenses and Deferred Charges$111,559$60,084▼ $51,475
Land, Buildings, and Equipment, Net$4,882$5,235▲ $353
Investments in Publicly Traded Securities$561$561→ $0
Total Assets$128,543,683$133,044,181▲ $4,500,498
Other Assets Total$390,150$292,378▼ $97,772
Liabilities
Mortgage Notes Payable Secured by Investment Property$108,811,383$112,832,176▲ $4,020,793
Grants Payable$12,652,431$12,684,002▲ $31,571
Other Liabilities$849,259$828,304▼ $20,955
Accounts Payable and Accrued Expenses$271,698$381,793▲ $110,095
Total Liabilities$122,584,771$126,726,275▲ $4,141,504
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,958,912$6,317,906▲ $358,994
Total Net Assets Fund Balance$5,958,912$6,317,906▲ $358,994
Total Liabilities and Net Assets / Fund Balance$128,543,683$133,044,181▲ $4,500,498

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,235$55,155$60,390
Investment Program Related Org$114,493,681--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susan DurenFormer President (thru 06/23)FT$108,454$102,746$211,200
Angel RatliffVice PresidentFT$98,769$61,575$160,344
Christine RovedaPresident (from 07/23)FT$127,528$15,644$143,172

Board Members and Trustees

NameTitle
Bob PowersChair
Tim GrantVice Chair
Brett ManningDirector
Caleb StephensDirector
Jennifer a BarnesDirector
Jonathan ClarkeDirector
Kris HollingsheadDirector
Mike GilmoreDirector
Stephen WalkerDirector
Tedd KelleherDirector
Dustin KoonsSecretary
Kim EthertonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Falkin AssociatesSubcontracted Construction Monitoring7900 E GREENLAKE DR SUITE 208, Seattle, WA 98103$278,958
Enterprise Community PartnersSubcontracted Well Technical Assistance2025 1ST AVE SUITE 1250, Seattle, WA 98121$157,897
Nwm Risk ManagementSubcontracted Construction MonitoringPO BOX 25362, Portland, OR 97298$119,038
Revenue and Support

Revenue Composition

Contributions and Grants
$8,500
Program Service Revenue
$7,000,946
Investment Income
$215,053
Other Revenue
$0
All Other Contributions
$8,500
Change in Net Assets
$358,994
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,964,450
Salaries, Compensation, and Employee Benefits$891,055
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$4,816,073--$4,816,073
Fees for Services Other$422,105$140,702-$562,807
Current Officers, Directors, Trustees, and Key Employees$330,898$98,840-$429,738
Pension Plan Contributions$177,231$52,939-$230,170
Occupancy$84,190$28,063-$112,253
Other Employee Benefits$76,224$22,768-$98,992
Fees for Services Accounting-$75,353-$75,353
Other Salaries and Wages$55,035$16,439-$71,474
Payroll Taxes$46,724$13,957-$60,681
Office Expenses$40,562$13,521-$54,083
Fees for Services Legal-$53,850-$53,850
Insurance$46,288$5,143-$51,431
Advertising$9,121$3,040-$12,161
Travel$8,675$2,892-$11,567
All Other Expenses$7,993$2,629-$10,622
Grants to Domestic Orgs$10,000--$10,000
Conferences and Meetings$3,851$1,284-$5,135
Other Expenses$2,712$1,464-$2,712
Depreciation Depletion$1,835$612-$2,447
Total Functional Expenses$6,330,189$535,316$0$6,865,505
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable - Member Bank$447,809
Lease Liability$327,952
Unfunded Commitments$52,543
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

As many board members are employed by either member banks or within the banking/financial industry they may have business relationships outside of their board relationship.

Form 990, Part VI, Section A, Line 6

The organization has 33 member banks.

Form 990, Part VI, Section A, Line 7A

The voting delegates of the member banks vote on the board members.

Form 990, Part VI, Section A, Line 7B

The voting delegates of the member banks vote on the board members. The member banks also vote to authorize any of the following actions: (a) the amendment of the articles of incorporation (b) the merger or consolidation of the corporation (c) the sale, lease, exchange, or other disposition of all, or substantially all, the property and assets of the corporation (d) the distribution of assets of the corporation (e) the dissolution of the corporation (f) the revocation of dissolution proceedings

Form 990, Part VI, Section B, Line 11B

The form 990 will be emailed to all board of directors for their review before the return is filed by the taxpayer. The form 990 is reviewed by management before it is provided to the full board for review.

Form 990, Part VI, Section B, Line 12C

The organization collects signatures from board, committees, and employees certifying that they are aware of the organization's conflict of interest policy and that they do not have a conflict of interest. If a person does have a conflict of interest they are required to disclose it on the annual certification. The annual certifications are reviewed by staff and any potential conflicts are escalated to the president for further review and inquiry. Any board members with a conflict of interest must recuse themselves from any discussion related to the matter.

Form 990, Part VI, Section B, Line 15A

Historical and market salaries for the position were used by the executive committee of the board in determining the president's compensation. This review and approval was done in 2023.

Form 990, Part VI, Section C, Line 19

The organization maintains its form 1023 as an electronic file at the offices of wcra as well as on its website. The annual report including the audited financial statements are available thru the organization's website and can be mailed to anyone requesting a copy. The governing documents are available upon request at the offices of wcra.

Filing and Contact Details

Filer

Filer Name
Washington Community Reinvestment
EIN
91-1522679
Phone
2062922922
Address
1200 FIFTH AVE SUITE 1406 1406, SEATTLE, WA 98101

Signing Officer

Name
Christine Roveda
Title
President
Phone
2062922922
Signed
2025-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christine Roveda
Formed
1991
Legal Domicile
Wa
Voting Board Members
13
Independent Board Members
12
Employees
10
Volunteers
24

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
2707 COLBY AVENUE SUITE 801, EVERETT, WA 98201
Preparer
Claire Kidd
Phone
4252597227
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

On june 17, 1996, the association received an internal revenue service determination letter reaffirming the association's status as a publicly supported organization exempt from federal income tax under section 501(c)(3) of the internal revenue code. The association recognizes interest and penalties related to income tax matters in noninterest expense. The association had no unrecognized tax benefits at september 30, 2024 or 2023. The association files an exempt organization return in the u.s. Federal jurisdiction.

Raw XML AppendixShowing 400 of 624 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Desc0PROVIDE PERMANENT FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING AND REALTY-BASED ECONOMIC DEVELOPMENT IN WASHINGTON. ESTABLISHED TO ASSIST POTENTIAL BORROWERS IN OBTAINING PERMANENT FINANCING FOR MULTI-FAMILY PROJECTS VIA LOANS PARTICIPATED IN BY WCRA'S MEMBERS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0FORMER PRESIDENT (THRU 06/23)
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE WELL PROGRAM IS A STATE FUNDED PROGRAM TO PROVIDE TECHNICAL ASSISTANCE, LOANS AND GRANTS TO EARLY LEARNING AND CHILDCARE PROVIDERS ACROSS THE STATE OF WASHINGTON. THE WCRA ADMINISTERS THE PROGRAM AND PROVIDES LENDING TECHNICAL ASSISTANCE, LOAN UNDERWRITING AND MANAGEMENT, PARTNERING WITH OTHER NONPROFITS WHO PROVIDE TECHNICAL ASSISTANCE AND GRANT FUNDING.
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